Mon, Apr 15, 2024

USD: Yellen: Global Outlook Favorable, Risks Persist

US Treasury Secretary Janet Yellen said Unlock the Frozen assets of $300 billion worth of Russia and use them for Ukraine supplying of War needs. It is the strongest public idea given by Yellen in Sao Paulo Brazil meeting today.

USDJPY is moving in Ascending channel and market has reached higher high area of the channel

USDJPY is moving in Ascending channel and market has reached higher high area of the channel

On Tuesday, US Treasury Secretary Janet Yellen expressed optimism about the global outlook but acknowledged inherent risks, according to Reuters. Yellen highlighted the potential risks if the Israel-Gaza conflict were to escalate into a regional war and emphasized the importance of G7 collaboration to address Russian assets within the bounds of international law.

Conclusion of G7 meeting last week

USD: Yellen Urges Unlocking Frozen Russian Assets for Ukraine

US Treasury Secretary Janet Yellen said Unlock the Frozen assets of $300 billion worth of Russia and use them for Ukraine supplying of War needs. It is the strongest public idea given by Yellen in Sao Paulo Brazil meeting today.

Yellen Urges Use of Frozen Russian Assets for Ukraine’s Reconstruction

On Tuesday, Treasury Secretary Janet Yellen strongly advocated for unlocking approximately $300 billion in frozen Russian Central Bank assets to support Ukraine’s long-term reconstruction. Speaking in Sao Paulo during a meeting of G20 finance ministers and central bank governors, Yellen emphasized the necessity and urgency of accessing these immobilized funds, citing a strong international law, economic, and moral case.

USDJPY has broken Ascending channel in downside

USDJPY has broken Ascending channel in downside

The move is seen as a decisive response to Russia’s destabilizing actions, and Yellen believes it would incentivize Russia to negotiate a just peace with Ukraine. While the idea gains traction amid uncertainties in allied funding for Ukraine, concerns about the potential impact on the U.S. dollar’s global standing persist. Yellen, however, deems it “extremely unlikely” to harm the dollar, given the unique situation of Russia violating international norms. The EU has already passed a law to allocate windfall profits from frozen Russian assets, an action Yellen endorses.

US Urges China to participate in the G20 debt response scheme to lower income countries to support

The G20 agenda includes discussions on poverty alleviation, climate change, and conflicts in Gaza and Ukraine, with a summit scheduled for November 18-19 in Rio during Brazil’s presidency.

USD: Yellen: US and Allies Assessing Frozen Russian Assets Options

US Treasury Secretary Janet Yellen said Unlock the Frozen assets of $300 billion worth of Russia and use them for Ukraine supplying of War needs.

USDJPY is moving in box pattern and market has fallen from the resistance area of the pattern

USDJPY is moving in box pattern and market has fallen from the resistance area of the pattern

It is the strongest public idea given by Yellen in Sao Paulo Brazil meeting today.

Yellen Urges G7 Action on Russian Assets, Stresses No Preferred Strategy

On Tuesday, U.S. Treasury Secretary Janet Yellen emphasized the need for collective action with G7 allies to unlock frozen Russian sovereign assets. However, she clarified that Washington doesn’t have a “preferred strategy” yet. Yellen, ahead of meetings with G7 and G20 counterparts, highlighted ongoing evaluations of various options and associated risks, emphasizing alignment with international law.

USD Dollar

While acknowledging risks, she downplayed concerns about the impact on the global standing of the U.S. dollar, euro, or Japanese yen if Russian assets were confiscated.


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